Starbucks ups the ante in China
Starbucks increases its ownership of one of its China ventures to 90%, allowing private equity investor H&Q to exit.
Starbucks has increased to 90% the stake it holds in the China joint venture that covers Beijing and Tianjin, buying out private equity investor HQ and others for an undisclosed amount.
The JV called Beijing Mei Da Coffee was set up in 1999 when Starbucks first entered the China market. At the time, the US cafe giant was restricted by rules governing foreign ownership levels so established a JV with HQ Asia Pacific whereby the private equity firm...
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